Employee Benefits: A Balancing Act for Closely Held Businesses

Quinn, Jacqueline M.
February 2000
Journal of Financial Planning;Feb2000, Vol. 13 Issue 2, p50
Academic Journal
This article examines the position of closely held business owners in the U.S. when it comes to the issue of employee benefits. According to author Bruce J. Temkin, dramatic legislation changes over the last few years have given the owners of closely held businesses planning opportunities that never would have been thought possible. For example, effective January 1, 2000, as a result of the elimination of Section 415(c) of the Internal Revenue Code, there are no longer any limits on the amount an employee who participates in both of the employer's defined benefit and defined contribution plans. This will give many closely held business owners the opportunity to substantially increase contributions in qualified plans.


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